Credit Analysts Salary And Allowance
The successful running of any organization depends on several aspects. As all companies operate with the final goal of making monetary profits, they must concentrate on financial accounting. In recent past, a number of changes have taken place in the financial arena. As companies expend, they require the assistance of people who have knowledge and skills to analyze the financial data. It is here that the importance of Credit Analysts comes to the forefront. It is an essential post, as the professionals need to keep track of the organizations’ credit details.
Monthly salary of credit analysts
Recent financial reports highlight that the minimum monthly remuneration of any credit analyst will be as much as Rs. 40,000. The pay offered to these professionals depends on several factors as well. The pay policies of the organization and the overall experience of the candidate will also come in consideration.
Annual salary of credit analysts
The average annual pay of any credit analyst will range within Rs. 5 lakhs. According to market reports, the yearly minimum pay of any credit analyst will not be less than Rs. 2.2 lakhs. If you consider the additional perks of these professionals, then they may draw up a minimum of Rs. 2.4 lakhs as an annual remuneration. The maximum yearly pay of any professional, holding this post will draw Rs. 11 lakhs. The upper limit of this annual pay, along with extra benefits may reach an amount of Rs. 12 lakhs.
Other perks and benefits
Apart from the specified pay, individuals who occupy the post of a credit analyst are entitled to attain other benefits as well. The amount and types of benefits vary from one company to another. These professionals get yearly bonus, and travel allowances. Apart from this, they also attain insurance coverage, and medical benefits. Experienced professionals may also attain housing allowance. This will depend on the policy of the respective organization.
Salary offered by different organizations
|Estimated monthly pay||Estimated yearly pay||Minimum yearly remuneration package||Maximum yearly remuneration package||Name of the organization|
|Rs. 62, 000||Rs. 7.5 lakhs||Rs. 7 lakhs||Rs. 8.5 lakhs||Bank Of India|
|Rs. 80, 000||Rs. 10 lakhs||Rs. 4.7 lakhs||Rs. 15 lakhs||Axis Bank|
|Rs. 40, 000||Rs. 4.7 lakhs||Rs. 4 lakhs||Rs. 5.1 lakhs||MAGMA|
|Rs. 10, 000||Rs. 13 lakhs||Rs. 8 lakhs||Rs. 18 lakhs||HSBC|
|Rs. 80, 000||Rs. 10 lakhs||Rs. 3 lakhs||Rs. 14 lakhs||Fitch Rating|
|Rs. 55, 000||Rs. 7 lakhs||Rs. 6.6 lakhs||Rs. 8.1 lakhs||Indus Bank|
Related posts and salary details
|Monthly pay (average) – Rs. 35000
Yearly pay (average) – Rs. 4.5 lakhs
Minimum pay package (yearly) – Rs. 2.8 lakhs
Maximum pay package (yearly) – Rs. 6 lakhs
|Monthly pay (average) – Rs. 45,000
Yearly pay (average) – Rs. 5.5 lakhs
Minimum pay package (yearly) – Rs. 4 lakhs
Maximum pay package (yearly) – Rs. 7.5 lakhs
||Monthly pay (average) – Rs. 50,000
Yearly pay (average) – Rs. 7 lakhs
Minimum pay package (yearly) – Rs. 3.5 lakhs
Maximum pay package (yearly) – Rs. 11 lakhs
Roles and responsibilities of credit analysts
- Maintain credit records – Maintaining the credit details of an essential task. Misplacement or effort in credit data analysis may pave the path for the downfall of the organization. Credit experts will be able to collect and decode these details in an orderly fashion.
- Highlight credit-worthiness – Companies need to borrow money from the financial institutes, and market to smoothly run the operations. But none of the money lenders will instill their faith in company that has bad creditworthiness. It is the responsibility of credit analyst to ensure that the creditworthiness of the respective organization.
- Finance and accounting services – Apart from maintaining credit details, these professionals also find employment in the financial and accounting departments.
- Includes insurance services – Medium and established organization offer a number of medical and health insurance perks to their employees. Several credit experts are posted in this sector, to keep track of leisure and medical expenses.
- Other sectors of their activities – A person with the right set of skills will also get a job in the defense and aerospace sector. Apart from this, nondurable item manufacturing agencies also require the assistance of these professionals. Companies associated with the chemicals and biochemical industries will also be able to set their credit details straight with the assistance of experienced credit experts.
Earlier, all credit analysis related tasks were done manually. With the advent of several computer programs, it has become comparatively easy. But organizations require experienced and wise professionals to work with these programs. If you desire a lucrative career in the finance department, then credit analysis is an ideal opportunity.